For Danske Spil, financial planning, budgeting no numbers game
With annual turnover exceeding US$2 billion and a surplus of more than $280 million, Danske Spil – Denmark’s national lottery – is big business. And accounting for those big numbers is no game. So when it comes to financial planning, budgeting, consolidation and reporting, Danske Spil uses SAS®.
SAS Financial Management extends budget transparency and consolidation throughout the company for on-demand decision support. H.C. Madsen, Danske Spil's CEO, starts each morning with an up-to-date financial overview shared with all employees via the company intranet.
"Danske Spil is a part of retail trade, and so we must regulate our sales and finances from day to day with the same quick pulse found in retail stores," Madsen says. "We use the daily financial overview as a kind of GPS that tells us exactly where we are. Only if you have these facts in place can you make good decisions."
Each morning brings a fresh view of the latest consolidated key figures – sales, turnover and costs arranged by date, product and geography – delivered to Madsen's desktop and adapted for users throughout Danske Spil.
Fresh new look in the rear-view mirror
Naturally, we also look forward. But data mining and advanced statistical analysis can find trends when you analyze a historical development."
Before implementing SAS, Danske Spil's finance department was snowed in under mountains of data, Madsen explains. "Now this knowledge is out in the organization, and no one has to plow through inch-thick reports and long spreadsheets," he says. "Now, our business managers have direct access to the answers they need without going through finance."
Reliable, insightful decision support is crucial for efficient operation and profit, which helps to fund Danish athletic and cultural programs.
"Our goal is to provide entirely accurate information using quality data based on financial reality," says Madsen. "There should be no doubt about the facts. The finance department will deliver totally reliable financial data for reports that withstand scrutiny and illustrate the financial impact of management decisions."
"Formerly, we had various figures that flew around the organization, which cost management valuable time to ferret out the truth," Madsen says. "That is no longer the case, which is a great improvement."
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Provide accurate, reliable and consistent support for financial decisions throughout the organization
SAS Financial Management
Consistent, accurate support for better budget decisions; self-service access to reports for greater efficiency and quicker action
“Formerly, we had different figures that flew around the organization, which cost management valuable time to ferret out the truth. That is no longer the case, which is a great improvement.”